MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) insider Steven G. Litchfield sold 32,000 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares of the company's stock, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
MaxLinear Stock Up 1.1 %
NASDAQ MXL traded up $0.22 on Monday, reaching $20.90. The company had a trading volume of 1,672,028 shares, compared to its average volume of 1,041,244. The company's fifty day moving average is $15.53 and its 200-day moving average is $16.08. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -7.68 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.
MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The firm's quarterly revenue was down 40.2% compared to the same quarter last year. On average, research analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a "positive" rating to a "neutral" rating and decreased their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Craig Hallum lowered their price objective on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company began coverage on MaxLinear in a report on Friday, November 22nd. They set an "equal weight" rating and a $14.00 target price on the stock. Finally, Benchmark increased their price target on MaxLinear from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $23.14.
Check Out Our Latest Report on MaxLinear
Hedge Funds Weigh In On MaxLinear
Hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in MaxLinear in the second quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in shares of MaxLinear during the 3rd quarter worth approximately $42,000. GAMMA Investing LLC raised its stake in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $56,000. 90.79% of the stock is owned by institutional investors.
About MaxLinear
(
Get Free Report)
MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider MaxLinear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MaxLinear wasn't on the list.
While MaxLinear currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
